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No. of Recommendations: 6
Later, when I bought my first house, I added up all the interest and was equally shocked. Mortgage rates were higher then, but even today the mortgage interest can add up to almost as much as the actual price of the house.

Mortgage interest makes up a good portion of the lifetime cost of debt. It was noted in the article the states with the highest lifetime debt tended to be the ones with the largest mortgages.

IMO, you shouldn't add up the total interest paid on a mortgage and be shocked. The total interest paid is not that important. What is important is maximizing your net worth. It could be that the total interest paid on the mortgage is smaller that the total earned on investments from not paying down your mortgage.

It is my intention to pay the maximum amount of interest on my mortgage by not paying one extra penny towards it for the life of the loan.

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